Loveworks Academy for Visual And

“As per MN Statute 124E.07, staff members employed at the school, including teachers providing instruction under a contract, members of the Board of Directors, and all parents or legal guardians of children enrolled in the school are the voters eligible to elect the members of the School's Board of Directors.”

“The Form 990 was prepared by an independent accounting firm. The Board of Directors/School Management will review the Form 990 prior to filing with the IRS within 72 hours after receipt. Copies will be made and presented via email or in-person to all members of the Board and Management. Any changes to be made or addressed in the fiscal responsibilities of the school will be proposed at the next board meeting.”

“The school's conflict of interest policy covers directors, officers, and employees with the power to influence actions undertaken. All covered individuals are required to submit an annual disclosure form. On-going disclosures of potential conflicts shall be reported to the CEO or the Board Chair, who will bring the matter to the attention of the board or a duly constituted committee thereof to determine if a conflict exists. Transaction with conflicts of interest may be undertaken if the conflict is fully disclosed, the conflicted individual is excluded from the discussion and approval of the transaction, a competitive bid or comparable valuation exists, and the board/committee has determined that the transaction is in the best interest of the school. All proceedings related to conflicts of interest will be documented in the meeting minutes.”

“The school determines the school officers' compensation annually, based on market research. The board of directors reviews and approves management compensation, including increase proposals. Comparability data and surveys of other organizations have been used in the past. Another option the board would use isa review of form 990's from other similar sized organizations. The process and decisions are conducted and substantiated with meeting minutes, written employment contracts, and written policy.”

“The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request. The form 990 is also available on GuideStar.”

“Consulting Fees: Program service expenses 13,514. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,514. Miscellaneous: Program service expenses 24,602. Management and general expenses 18,702. Fundraising expenses 0. Total expenses 43,304. Transportation Services: Program service expenses 611,583. Management and general expenses 0. Fundraising expenses 0. Total expenses 611,583. Repair and Maintenance Services: Program service expenses 81,480. Management and general expenses 0. Fundraising expenses 0. Total expenses 81,480. Education: Program service expenses 31,973. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,973. Communication: Program service expenses 5,731. Management and general expenses 915. Fundraising expenses 0. Total expenses 6,646.”

“This process has not changed from prior years.”